Section 362.2-303 - No liability as limited partner for limited partnership(1) An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of any limited partner. A limited partner is not personally liable, directly or indirectly, by way of indemnification, contribution, assessment, or otherwise, for an obligation of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.(2) Subsection (1) of this section shall not affect the liability of a limited partner for his or her own negligence, wrongful acts, or misconduct.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 133, sec. 61, effective7/15/2010. -- Created 2006, Ky. Acts ch. 149, sec. 117, effective 7/12/2006.